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The Alaska Permanent Fund Corporation (“APFC”) manages the $68 billion Alaska Permanent Fund, a sovereign endowment established in 1976 to provide for all current and future generations of Alaskans. We are growing and plan to add several experienced and talented investors to our Private Markets investment team.  Below you will find the basic responsibilities and qualifications for these positions and an overview of the primary private markets strategies for which we are hiring.

The Portfolio Manager or Senior Portfolio Manager (the “PM”) reports to the Director of Private Equity and Special Opportunities and shares responsibility for identifying, analyzing, selecting, monitoring and managing private equity fund investments, private equity co-investments, and direct investments into operating companies.  As a key member of the investments department, the PM will contribute knowledge and perspectives and will assist with investment decisions across asset classes. Importantly, the PM will share responsibility with other senior investment professionals at APFC for teaching, training, and mentoring promising investment talent. The Private Markets team is dedicated to the creative development and responsible management of superior and durable investment portfolios. By combining best-in-class manager selection with the ability to strategically deploy capital directly into attractive opportunities, the Private Markets team seeks to deliver accretive, risk-adjusted returns over the long term.

 

Key Responsibilities

  • Sourcing, assessing, closing, and monitoring fund commitments, co-investments, and direct investments across strategies and industries
  • Evaluate prospective investment opportunities by applying skills and experience, including: valuation analysis, market analysis, sensitivity analysis, and other tools to identify and assess investment risks and merits
  • Develop analytical frameworks to assess potential investments, investment themes, portfolio construction, and investment pacing
  • Direct research on investment themes and special projects
  • Prepare materials for, and participate in, internal meetings, due diligence meetings and board meetings
  • Monitor and manage current investments and pipeline
  • Develop quarterly board meeting material
  • Develop and maintain relationships with industry participants including other limited partners, general partners, and industry thought leaders
  • Screen new investment prospects and shape pipeline of opportunities to reflect the most promising opportunities available to institutional investors

 

The successful candidate will have the following qualities:

 

  • Unquestionable personal and professional integrity
  • Self-motivation and team orientation
  • A track record of outstanding professional achievement
  • Intellectual curiosity, humility, tenacity, and professional flexibility
  • A belief that great outcomes come from great teams; a demonstrated ability to collaborate well in a small, informal team environment
  • Strong commitment to APFC’s vision and its shared values of integrity, stewardship and passion

 

Required Qualifications

APFC seeks to hire individuals who are highly motivated, have demonstrated excellence in prior endeavors, and have the following qualifications:

 

  • A bachelor’s degree and 5+ years of directly relevant professional experience
  • Robust knowledge of portfolio management, business strategy, transaction execution (M&A), capital markets, accounting, and private equity or hedge fund investments
  • Direct investment or manager selection experience in private markets
  • Ability to manage multiple tasks simultaneously and meet tight deadlines
  • Excellent verbal and written communication skills
  • High level proficiency in mathematics and financial modeling 
  • Ability to perform, apply and leverage cash flow, valuation, and capital structure analysis
  • Effective presentation and advanced critical thinking skills

 

Preferred Qualifications

 

  • A post-graduate degree or advanced professional designation (e.g., CFA)

 

 Positions

 

  • Portfolio Manager – APFC will consider candidates with the required and preferred qualifications.
  • Senior Portfolio Manager – APFC will consider candidates that exceed the required qualifications and can be expected to demonstrate consistent investment excellence and contribute lasting benefits for APFC.

 

Investment Strategies

 

In Private Equity, APFC makes fund investments, co-investments, and direct investments in private equity, venture capital, and other illiquid, alternative investment opportunities. The team oversees the investment process from opportunity identification through evaluation, structuring, negotiation, execution, management, and exit. We aim to establish and develop robust and lasting relationships with exceptionally talented fund managers and help them create value in their partnerships and in their portfolios. For co-investments, we focus on non-control positions well-diversified across company stage, industry and geography in growing, innovative companies.

 

In Special Opportunities, we leverage our scale and stable, long-term capital to source, evaluate and execute high conviction, higher concentration, theme-driven investments. The team operates with a flexible mandate centering primarily around situations stemming from unusual supply and demand imbalances, capital flight, structural complexities, or unique opportunities with asymmetric payoffs. Investments cover a wide spectrum, including directly-sourced venture capital, real estate and private equity transactions, strategic co-investments alongside GPs, and ownership stakes in differentiated investment management firms.

 

The combined Private Equity and Special Opportunities portfolio represents a 15% target allocation of the overall fund, and is expected to grow to 19% by fiscal year 2025.

 

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may be added, removed or changed at any time with or without notice.

 

AAP / EEO Statement

APFC provides equal employment and advancement opportunities to all.  APFC follows all applicable Federal and State laws and does not discriminate in employment opportunities or practices on the basis of race, color, religion, gender, gender orientation, national origin, age, disability, or any other class protected by law.


Employees

Investor | Sovereign Wealth Fund

Investor | Sovereign Wealth Fund

Investor | Sovereign Wealth Fund

Investor | Sovereign Wealth Fund

Investor | Sovereign Wealth Fund

United States

Yup S. Kim

Investor | Sovereign Wealth Fund

United States